Today, sees Ripple make yet another huge announcement, something that could very well bring some great value and some much-needed good news to Ripple and their currency, XRP. At the moment, XRP is snowed under some controversy with a looming court case based on allegations that it is a security.
Their new project, ‘Xpring’ (pronounced Spring, apparently) aims to provide investment to new start-ups which in turn will encourage them to use XRP and the services behind XRP and the Ripple blockchain.
Ripple have released a full press release detailing how Xpring works, see it for yourself, here-https://ripple.com/insights/welcome-to-xpring/
Ripple have said:
“Today we are announcing Xpring (pronounced Spring). Xpring is a new initiative by Ripple that will invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs. Every entrepreneur will use the digital asset XRP and the XRP Ledger, the open-sourced, decentralized technology behind XRP, to solve their customers’ problems in a transformative way.”
“At Ripple, we will continue to use XRP to help financial institutions remove friction from global payments. However, the characteristics of XRP and the XRP Ledger – superior speed, scalability and stability — make it perfect for entrepreneurs looking to solve problems across identity, trade finance, gaming and virtual goods, provenance, real estate, insurance, digital media and many other industries. Xpring’s entrepreneurs and companies will leverage XRP for use cases like these, among others.”
Xpring has been designed to allow new entrepreneurs to benefit from Ripples services, for more info, visit the Xpring website, here- https://xpring.co/
What does this mean for XRP?
As Xpring encourages movements of XRP, this will ensure that more new businesses start to use XRP, be that as a payment method for themselves or even as a method for customer payment, for those businesses that have a product or a commodity to sell. In short, this is sure to boost activity on the Ripple blockchain, regardless.
Above all, Xpring promises to open up blockchain technology to a number of new and emerging companies, bringing new ideas and new technologies into an industry that fosters innovation.
This really is a great addition to the Ripple portfolio and really encompasses the potential of xVia, xCurrent, xRapid and of course, XRP.